RTTN: Canadian Stocks Should Steady Despite Weak Energy Shares -- Canadian Commentary
Canadian stocks may struggle to rally along with U.S. equities Wednesday morning, as falling crude oil prices may pressure the heavily-weighted energy sector.
Bay Street was in a terrible mood Tuesday, as the benchmark S&P/TSX Composite Index closed at 13,481.90, down 377.22 points or 2.72 percent.
Futures indicate a slightly higher open this morning, as an upbeat U.S. ADP jobs report raised hopes of withstanding a Chinese economic slowdown.
U.S. WTI crude oil for October was down 95 cents at $44.45 a barrel, with concerns about Chinese demand also weighing.
Air Canada (ACA.A-TO) is being sued for going back on a deal where it accidentally offered $8,000 fares for $800.
Valeant (VRX.TO) will acquire Synergetics USA, Inc. (SURG) for $6.50 per share in cash. The transaction is expected to close in the fourth quarter of 2015.
Enbridge Inc (ENB, ENB.TO) on Tuesday said it has closed the transfer of its Canadian Liquids Pipeline Business and certain Canadian renewable energy assets to Enbridge Income Fund for consideration of $30.4 billion plus additional incentive rights.
